THE freehold property at 26 Anderson Street (South Gippsland Hwy), Leongatha, which includes an exceptional office building of some 326m2, in a highly visible, highly accessible location next to McDonalds Restaurant, will be offered at auction on Thursday, April 11.
SEJ Livestock & Real Estate, the long-established tenant of the office, since it was built in 1993, have a secure lease until May 2026, plus options through to April 2032, paying all the usual outgoings, and providing a net income of $71,104 per annum.
So, it’s the freehold and not the business that’s for sale.
“We just thought, with all of us getting to an age now where you’ve got to make sure these things are squared away, that we should sell the property,” said Bill Sweeney, one of the partners of SEJ Property which owns 26 Anderson Street.
“But it’s been a great office for the business, still is, and I’ve got to hand it to the late Woorayl Shire Councillor Bryan Cusack for finding this for us.
“When Stevens, Egan and Johnston started out in 1983 with Mike Stevens, Bill Egan, Terry Johnston and myself, we were in a little office in Hyland Place, I suppose it was, next to the old church, where Michael’s IGA is today.
“We got bigger and had to move and thought we’d found the perfect spot, on the highway, coming into town, in an old house where the Salvation Army is today.
“But then the shire came and told us there would be a highway going straight through the house, and we’d have to move.
“To Bryan Cusack’s credit, he came and picked us up in his car and drove us around to various sites and we were lucky enough to get this one, close to the centre of town but also with plenty of room around it.
“In fact, where we are sitting here in the office today is the exact spot where the Gippsland and Northern holding yards were, in the old Leongatha Saleyards, so there’s a bit of history here, with the old saleyards oak trees still out there.
“When I do a bit of gardening out there, I’ll still occasionally find the odd bit of bluestone or something from the saleyards.
“Another stroke of good fortune was getting Waye Hayward to build it and he did a very good job.”
So, it’s something of an end of an era for the ownership of SEJ office building, but not for SEJ Livestock & Real Estate, which will continue, with all the usual services from the site next to McDonalds.
Auction and property details
Described as a “high profile highway position” the commercial freehold at 26 Anderson Street (South Gippsland Hwy) Leongatha will be auctioned by SEJ Real Estate on Thursday, April 11 at 11am, the first time this high-profile, 1174m2 corner site has been offered for sale in more than 30 years.
The established tenant, SEJ Livestock and Real Estate has renewed its lease until May 2026 and holds options through to April 2032, with a net income of $71,104 pa + GST and the tenant paying all the usual outgoings.
The feature of the property it an “exceptional” 326m2 office building with open foyer, individual and open plan offices, board room, kitchen and bathroom facilities, car parking and storage yard.
For further information and to arrange a personal inspection, please contact Irene Walker at SEJ Real Estate 0429 045 632.